Factors affecting Venture Capital Investment by Real Investors, A Study of Tehran Stock Exchange (Sari branch) Activists

اقتصاد پولی مالی

Volume 31, Issue 2 - Serial Number 28, September 2025

Document Type: پژوهشی

DOI: 10.22067/mfe.2024.88235.1424

Authors

mohammad reza babaei semiromi^{* 1}; ramezan gholami evati²; sayed tohid mosavian³

¹faculty member of payamnoor university

²Assistant Professor of Business Management Department

³economic science department, payam noor university, tehran, iran

Abstract

Increasing desire for venture capital is one of the growth drivers of small and medium enterprises in developing countries. Startup companies, if supported by venture capitalists, can successfully IPO, lead to the development of their market and rapid increase in profitability and increase in the value of their shares and successful feedback to their investors. Venture capitalists are actually entrepreneurs who want to help small business owners achieve growth and high profits in the stock market.The purpose of this research is to evaluate the factors affecting venture capital investment among real investors. The research is applied in terms of purpose and descriptive-survey in terms of research method. The statistical population includes real investors active in the market of Tehran Stock Exchange, Sari Branch in the fall of 2023, in unlimited numbers. The non-random sampling method was available, and the sample was determined by Cochran's formula with the number of 384 people.The data collection tool was a standard 22-item questionnaire whose face and structure validity and reliability were confirmed in three different ways. Among the independent variables studied (awareness, educational support and social influence), awareness has the greatest impact on venture capital (β=0.248, t=4.704). Also, the internal effect of independent variables on each other is also significant. But self-control has no moderating role in the effect of independent variables on the dependent variable. In the end, according to the results, in order to improve decision-making in risky financial investment conditions, practical suggestions were presented.

Keywords

investment awareness; educational support; social influence; self-control; Venture Capital

References